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Tungsten-Filled 10 Oz Gold Bar Found In The Middle Of Manhattan's Jewelry District

Tyler Durden's picture




 

It is one thing for tungsten-filled gold bars to appear in the UK, or in Germany: after all out of sight, and across the Atlantic, certainly must mean out of mind, and out of the safe. However, when a 10 ounce 999.9 gold bar bearing the stamp of the reputable Swiss Produits Artistiques Métaux Précieux (PAMP, with owner MTP) and a serial number (serial #038892, likely rehypothecated in at least 10 gold ETFs across the world but that's a different story), mysteriously emerges in the heart of the world's jewerly district located on 47th street in Manhattan, things get real quick. Moments ago, Myfoxny reported that a 10-ounce gold bar costing nearly $18,000 turned out to be a counterfeit. The discovery was made by the dealer Ibrahim Fadl, who bought the PAMP bar in question from a merchant who has sold him real gold before. "But he heard counterfeit gold bars were going around, so he drilled into several of his gold bars worth $100,000 and saw gray tungsten -- not gold. The bar was filled with tungsten, which weighs nearly the same as gold but costs just over a dollar an ounce."

What makes so devious is a real gold bar is purchased with the serial numbers and papers, then it is hollowed out, the gold is sold, the tungsten is put in, then the bar is closed up. That is a sophisticated operation.

 

MTB, the Swiss manufacturer of the gold bars, said customers should only buy from a reputable merchant. The problem, he admits, is Ibrahim Fadl is a very reputable merchant.

 

Raymond Nessim, CEO Manfra, Tordell & Brookes, said he has reported the situation to the FBI and Secret Service.

 

The Secret Service, which deals with counterfeits, said it is investigating.

And cue panic on the realization that virtually any gold bar in the world, not just those in Europe and Australia, which have already had close encounters with Tungsten substitutes, but also New York may be hollowed out and have a real worth of a few dollars max. Which, sadly, is fitting considering our main story from last night was the realization that an unknown amount of Chinese iron ore had either never existed or had simply vaporized, and was no longer serving as the secured collateral to various liabilities circulating in the electronic ether. After all, only the most naive out there could conceive of gold being sacrosanct when every other asset class is being diluted to infinity by a regime that has long since run out of money.

As for gold-based transactions on West 47th street: look for that market to grind to a halt at least for as long as it takes for this scandal to be forgotten too.

The only open question remaining will be how much of the gold located 90 feet below Libert 33 is in the same Tungstenized format. For what it's worth: it is unlikely we will ever find out.

This is what glaring gold counterfeiting looks like.

And for the reading challenged:

New York News | NYC Breaking News

All that said, with false flags rampant these days, we would not be surprised if this is merely yet another attempt to discredit gold, this time physical, as an undilutable medium of warehousing wealth. So buyer beware: in a time when everyone is broke, triple check before exchanging one store of wealth for another.

 

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Wed, 09/19/2012 - 05:44 | 2810149 matrix2012
matrix2012's picture

''Max Keiser: Global Collapse by April!'

 

but alex jones is a shill

Tue, 09/18/2012 - 21:02 | 2809248 e_goldstein
e_goldstein's picture

Ask Bob Rubin.

 

Tue, 09/18/2012 - 21:10 | 2809282 Careless Whisper
Careless Whisper's picture

This story is total bullshit. Designed to discredit physical gold. Anyone familiar with Manhattan's jewelry district on 47th Street knows that any kind of fraud gets settled quickly, quietly, and rather efficiently. An eye for an eye - they wrote the book.

 

Tue, 09/18/2012 - 21:40 | 2809387 Bullionaire
Bullionaire's picture

Agree.

Tue, 09/18/2012 - 21:41 | 2809392 Axenolith
Axenolith's picture

I'm inclined to side with you on that call.  If I'm not mistaken, PAMP's are either machined or die stamped, and the flaws on the front before it's mangled seem a bit out of the ordinary.  Plus, if you bought a PAMP 10oz in the US, there's a high probability the transaction was recorded and could be traced.

To do it without owning the original, you'd have to have a portrait lithograph, borrow or steal the original, do a so-so job on recreating the original in a negative (for a die), dip the tungsten in molten gold or plate it on super thick, then stamp it in the die.

Granted, someone counterfeited Morgans back when silver was ~0.40/ounce with a portrait lithograph die making method and they weren't discovered until a few years back by PCGS, but they were actually counterfeited with sterling.  Everyone thought they were a rare die variety until multiples could be checked against each other.

Tue, 09/18/2012 - 22:06 | 2809486 ChanceIs
ChanceIs's picture

To do it without owning the original, you'd have to have a portrait lithograph, borrow or steal the original, do a so-so job on recreating the original in a negative (for a die), dip the tungsten in molten gold or plate......................

Oh for Lloyd Blankfein's sake.  Why not just rehypothecate the thing?  HAve you been on a different planet these last two years?

Tue, 09/18/2012 - 22:23 | 2809547 steve from virginia
steve from virginia's picture

 

Coins are stamped, billets like these are cast. Use of an original plus careful latex moldmaking would allow a very good reproduction. The tungsten would be centered in the final ceramic mold, heated then molten gold poured around it.

 

These are likely made in China ... Be sure if there is one there are many more out there.

 

Chinese are also counterfeiting US silver coins:

 

http://coins.about.com/od/worldcoins/ig/Chinese-Counterfeiting-Ring/

Tue, 09/18/2012 - 23:00 | 2809646 Freebird
Freebird's picture

Agreed, smells of Chinese - definitely pre-fab not filled.
Wonder what the run was ...

Tue, 09/18/2012 - 23:12 | 2809667 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Wonder what the run was ...

Probably proportional to Chinese holdings of US Treasuries.

Tue, 09/18/2012 - 21:49 | 2809425 ArrestBobRubin
ArrestBobRubin's picture

Ask away. I'm here to protect and serve

Tue, 09/18/2012 - 21:11 | 2809285 buckethead
buckethead's picture

GOLDLEAF.... BITCHEZ!

 

Tue, 09/18/2012 - 21:37 | 2809376 gina distrusts gov
gina distrusts gov's picture

How many tons of fine tungsten in fort knox

Tue, 09/18/2012 - 22:08 | 2809491 RmcAZ
RmcAZ's picture

So, how much tungsten is in here then? http://www.spdrgoldshares.com/sites/us/

Tue, 09/18/2012 - 22:24 | 2809549 Peter Pan
Peter Pan's picture

So other than melting a bar, what technology can one use to detect tungsten?

Tue, 09/18/2012 - 22:31 | 2809574 Unbezahlbar
Unbezahlbar's picture

mmm..and what are bonds filled with?

I'd rather have the tungsten.

Tue, 09/18/2012 - 23:39 | 2809750 lemonobrien
lemonobrien's picture

ultra sound

Tue, 09/18/2012 - 22:38 | 2809594 P229R
P229R's picture

It's Bush's fault for sure.

Wed, 09/19/2012 - 02:12 | 2809972 Silver Bug
Silver Bug's picture

Cross your T's and Dot your I's when buying large amounts of gold and silver. I have come across a few fake silver coins now.

 

http://ericsprott.blogspot.ca/2012/09/eric-sprott-gold-and-silver-outlook.html

Wed, 09/19/2012 - 03:01 | 2809998 _underscore
_underscore's picture

The irony is that even the (~80% tungsten ~20% gold?) fake bar has more backing than the fiat used to buy it. It may well seem like a bargain not too long from now.

Wed, 09/19/2012 - 08:25 | 2810366 Jacks Creation
Jacks Creation's picture

I'm calling high bullshit.

There appears to be no record of anybody called Ibrahim Fadl operating as a merchant /jeweller/ dealer in New York. None.

Check it out yourselves.

Tue, 09/18/2012 - 20:45 | 2809166 Xibalba
Xibalba's picture

BUY SILVER

Tue, 09/18/2012 - 20:56 | 2809202 CunnyFunt
CunnyFunt's picture

100oz Engelhards?

At least you could melt the lead for muzzle-loader rounds.

I can't imagine trying to tig weld with that tungten though.

Tue, 09/18/2012 - 21:10 | 2809278 seek
seek's picture

Tungsten is used at the core of armor-piercing rounds. Bitch to work with, but it'd still have application.

Tue, 09/18/2012 - 21:18 | 2809313 CPL
CPL's picture

Light bulbs.  Simple to work with easy to manufacture 60 watt light bulbs.

Tue, 09/18/2012 - 21:50 | 2809431 blunderdog
blunderdog's picture

Sure, with that outrageous CFL legislation, old-fashioned incandescent bulbs are long-term bullish.  Wait for the resurgence--folks'll be paying 75 or 80 CENTS for those things!

Tue, 09/18/2012 - 22:35 | 2809586 percyklein
percyklein's picture

Clear winner comment.

Tue, 09/18/2012 - 21:26 | 2809339 CunnyFunt
CunnyFunt's picture

Excellent! If I find a fake PAMP and a fake Engelhard, I can make some armor-piercing black powder shot.

Tue, 09/18/2012 - 21:33 | 2809366 CPL
CPL's picture

Charcoal

Matchheads/sulfur

Dried Horse or Pig piss, the powder residue left behind is saltpeter.

 

Recipe for the boom stick energy source.  Hasn't changed since China1200 BC.

Tue, 09/18/2012 - 21:27 | 2809341 duo
duo's picture

My dealer told me there were some 100oz Engelhards around 10 years ago that were drilled out, filled with lead shot, and plugged back up.  From what I hear, a good dealer should be able to detect one.

It looks like maybe 2-3 oz of the gold bar were replaced with tungsten.  That's a lot of work for maybe $5000.

Tue, 09/18/2012 - 21:31 | 2809360 CunnyFunt
CunnyFunt's picture

Then think of the scale required to make it worthwhile.

The gold looks quite thin.

Tue, 09/18/2012 - 22:27 | 2809528 knukles
knukles's picture

100 oz., who gives a fuck?!?!?!?

Remember, in the 70's the Treasury (or some other) ordered a bazillion 440 oz., tungsten bars. (LBMA good delivery size, to boot!)

Wolfram Bitchez!

Wed, 09/19/2012 - 03:21 | 2810014 Clashfan
Clashfan's picture

So if a friend of mine is buying gold and silver coins from a dealer, how does he know if they are real? What if he wants to buy a one oz American eagle, gold, for example?

Wed, 09/19/2012 - 05:57 | 2810159 Vlad Tepid
Vlad Tepid's picture

Weigh it.

Sound test the bigger silver.

Chemical test it if you're really suspicious, but if you're that suspicious, you shouldn't buy.

Start small (very small) and buy around.  See who you like and who you think is trustworthy and stick with them.  That way you're likely to remain at the top of the list when supply gets tight.  And they won't screw you because you've got their number.  They'll likely work with you in the event of a screw job.  As an aside, to find a good dealer, ask lots of stupid noob questions you already know the answer to and go with the guy who answers honestly, takes the time to answer and really educates.

Tue, 09/18/2012 - 23:17 | 2809546 Jam Akin
Jam Akin's picture

It is this kind of rampant fraudulent activity that cries out for the most experienced leadership:  Corzine for President!

Tue, 09/18/2012 - 22:38 | 2809592 americanspirit
americanspirit's picture

If you can afford 100 oz gold bars and you don't have the good sense to make sure they are actually 100 oz of gold then you are an idiot and deserve to get took.

 

Tue, 09/18/2012 - 20:52 | 2809203 Row Well Number 41
Row Well Number 41's picture

I've seen more then a few reports of fake 100Oz bars, so check regardless of what you buy.  In this envirionment any store of value is probably worth faking to the unscrupulous.

#41

Tue, 09/18/2012 - 22:12 | 2809507 Mesquite
Mesquite's picture

Should make use of those ultrasound machines very important now..!!

Wed, 09/19/2012 - 05:59 | 2810161 Vlad Tepid
Vlad Tepid's picture

A good ping test with a screwdriver is more than sufficient to tell a lead filled 100ozer from a solid bar.

Tue, 09/18/2012 - 20:52 | 2809206 stocktivity
stocktivity's picture

You got it...just buy old worn 1964 or earlier dimes, quarters, halves, silver dollars....no tungsten in those. If they're worn out a bit, they're authentic.

Tue, 09/18/2012 - 21:18 | 2809312 Mad Max
Mad Max's picture

Do you think that maybe a country which fakes both current and older "rare" coins might also be able to fake pre-64 junk silver?

I'll trust it if it comes from a stash of someone who had it in 1964.  And maybe, maybe if it comes from a very reputable coin shop that would know how to spot fakes.

Tue, 09/18/2012 - 21:36 | 2809374 CunnyFunt
CunnyFunt's picture

There have been many reports of fake Morgan dollars recently. But what sort of margins would be involved in manufacturing fake silver dimes? The more you handle silver, the easier it is to spot something out of the ordinary.

Tue, 09/18/2012 - 22:01 | 2809469 economicmorphine
economicmorphine's picture

Most fake Morgans are from China, so I guess they could do fake dimes as well.  Still, I came across a 1963 Franklin dime in circulation last week.  Why fake them when people are still giving them away?

Tue, 09/18/2012 - 22:15 | 2809516 CunnyFunt
CunnyFunt's picture

You can't reproduce the wear on a dime from a time it was actually worth something. The Morgans didn't circulate nearly as much.

Tue, 09/18/2012 - 23:30 | 2809725 Conax
Conax's picture

I'd agree with you that Morgans are easier to pass than regular 90%.

Older people will be hard to fool with dimes, quarters or halves since they handled them in their youth, and a dime was real money to a kid back then.  You could buy a kite for 15 cents and a ball of kite string (250 yards) for a dime. I bet I could spot a fake US dime a mile away.

Wed, 09/19/2012 - 05:56 | 2810156 Winston Churchill
Winston Churchill's picture

You can in a tumber with rock and sand.

The energy required however would be far more expensive than the profit.

Wed, 09/19/2012 - 00:08 | 2809812 tmosley
tmosley's picture

I think they were being faked for numismatic value (the Morgan dollars), and as such, still had the correct amount of silver in them.

I haven't heard anything about fake dimes.  Do you have any information on that subject?

Tue, 09/18/2012 - 23:11 | 2809665 logically possible
logically possible's picture

The fake Morgan dollars are easy to spot, it says "ma din china" on the back.

Tue, 09/18/2012 - 21:15 | 2809303 agNau
agNau's picture

Last night I checked my Goldschlager till I fell down. Quality assurance is important.

Tue, 09/18/2012 - 22:03 | 2809477 akak
akak's picture

You held back the Herradura Silver Anejo for tonight, right?

Tue, 09/18/2012 - 20:45 | 2809167 knicks3005
knicks3005's picture

Printing GOLD will be the new thing. 

Tue, 09/18/2012 - 21:22 | 2809322 Melin
Melin's picture

I always think of Ctrl+P as alchemy

Tue, 09/18/2012 - 21:24 | 2809330 Ness.
Ness.'s picture

Already done.  

 

GLD.

Tue, 09/18/2012 - 20:46 | 2809173 TheLordNorman
TheLordNorman's picture

SilverBitchezz,

everything in the mainstream paradigm is a fraud.

Tue, 09/18/2012 - 21:56 | 2809450 ArrestBobRubin
ArrestBobRubin's picture

Give that man a cupie doll!

“A society becomes totalitarian when its structure becomes flagrantly artificial. That is when its ruling class has lost its function but succeeds in clinging to power by force or fraud.”

George Orwell

Tue, 09/18/2012 - 22:43 | 2809611 knukles
knukles's picture

"Not all gold bars are created equal"
                    -Precious Metal Farm

Tue, 09/18/2012 - 20:47 | 2809177 Bay of Pigs
Bay of Pigs's picture

wolfram bitches!

Tue, 09/18/2012 - 20:48 | 2809181 fonzannoon
fonzannoon's picture

that is crazy shit

Tue, 09/18/2012 - 20:48 | 2809184 Neethgie
Neethgie's picture

just buy the lower denominations surely it will be harder to do on a more intricate level.

Tue, 09/18/2012 - 20:49 | 2809186 Threeggg
Threeggg's picture

Looks like a classic dip and cover going on the past 3 days on the metals. Friday Quadwitching should be interesting. Look for the stock markets to tank big starting Thursday ?

Tue, 09/18/2012 - 21:57 | 2809456 A Dollar Short
A Dollar Short's picture

Stocks should have tanked today.  I bought gold doubloons, they turned out to be chocolate filled.  

 

 

Tue, 09/18/2012 - 20:49 | 2809187 Rattling Bones
Rattling Bones's picture

Pricks could have at least filled it with chocolate.

Tue, 09/18/2012 - 22:05 | 2809481 palmereldritch
palmereldritch's picture

Could have been worse. Instead of Tungsten they could have inserted one of those old crappy iPhone 4s.

Tue, 09/18/2012 - 20:49 | 2809189 Bastiat
Bastiat's picture

Buy coins.

Tue, 09/18/2012 - 20:59 | 2809228 lakecity55
lakecity55's picture

....Or  smaller silver bullion. I would think 5-10ozt would not be worth counterfeiting... yet.

Coins are a better risk.

Tue, 09/18/2012 - 21:10 | 2809281 tmosley
tmosley's picture

1oz, 1/2oz and junk.  That's all I deal with these days.  Now, I only buy junk used, everything else comes straight from the manufacturer.

Wed, 09/19/2012 - 00:24 | 2809305 Bastiat
Bastiat's picture

Yep. My 100oz silver bars came straight from the JM refinery to the vault.

Tue, 09/18/2012 - 21:29 | 2809347 bob_dabolina
bob_dabolina's picture

Cool!

Tue, 09/18/2012 - 20:50 | 2809193 LongSoupLine
LongSoupLine's picture

Holy crap, I can't wait for the shit storm when many more are found "filled" due to nervous holders drilling their stockpiles.

This could get fucking ugly....fast.

Tue, 09/18/2012 - 20:55 | 2809212 Number 156
Number 156's picture

Yes it could get ugly, especially when the government starts confiscation again and ends up cornering the tungsten market.

Tue, 09/18/2012 - 21:14 | 2809295 buckethead
buckethead's picture

10 oz in tungsten filled internets to you!

Tue, 09/18/2012 - 21:00 | 2809235 Doomer
Doomer's picture

Oh yeah, sure, this will be investigated thoroughly. /sarc

This will never be mentioned again, just like counterfeit Treasury bonds, tons of missing steel, and vaporized customer accounts.

Nothing-must-stop-the-Pozi.

Tue, 09/18/2012 - 21:36 | 2809333 ChanceIs
ChanceIs's picture

Sorry, but as a gold/silver bull I am delighted.  DELIGHTED.  Are we about to discover that Warren Buffet's 10 meter gold cube is really only nine meters on a side!?!?!  Oooooops.  Supply and demand bitchez.

David Morgan (linked through Keiser's page http://maxkeiser.com/2012/09/18/david-morgan-silver-moving-towards-par-w... ) just put out a video anticipating that silver was going to parity with gold.  So if there is less gold on the surface of the planet than was commonly believed, could silver go sub parity?  I can't wait to find out.

I mean, really.  Would this shake anybody's confidence in government more than it already should have been?  I was about to slit my wrists when Roger Clemmons was accused of using steroids.  And then when Lance Armstrong was deposed and banned from cycling!  I mean...baseball and cycling are important.  Think of all the dissillusioned children.  Money is just money.  The Bernank is ripping off $40 billion a month so it couldn't be very important.

Tue, 09/18/2012 - 21:36 | 2809375 DosZap
DosZap's picture

This is exactly why I would /have NEVER bought Au in any size BARS.

A lesson for all................

Instead of "Hammer Time", it's DRILL TIME.

Tue, 09/18/2012 - 20:50 | 2809194 Serfs Up
Serfs Up's picture

Is it my time yet?

Tue, 09/18/2012 - 20:52 | 2809204 LongBalls
LongBalls's picture

You know paper is being devalued. It is unclear less testing that your gold is. Buy gold or buy silver.

Tue, 09/18/2012 - 20:53 | 2809210 Hulk
Hulk's picture

My ex wife must have sold !!!

Tue, 09/18/2012 - 20:55 | 2809216 earnyermoney
earnyermoney's picture

Treasury false flag to dampen demand for Gold. Secret Service investigating my arse.

Tue, 09/18/2012 - 21:05 | 2809259 ATM
ATM's picture

Maybe they should start the investigation right at MTB? They seem to be the most logical starting point. Sophisticated, unrecognizable from the real thing, maybe because it is the real thing! Maybe it wasn't drilled but was made that way from the start. 

Tue, 09/18/2012 - 20:56 | 2809217 Doomer
Doomer's picture

Never to be heard about again, just like counterfeit Treasury bonds, tons of missing steel and vaporized customer accounts.

Nothing-must-stop-the-Ponzi.

Tue, 09/18/2012 - 20:57 | 2809219 aphlaque_duck
aphlaque_duck's picture

Anyone trading gold needs to get an ultrasonic thickness gauge. They're relativey cheap - I got one for $300. It's the only way to detect this kind of fraud non-destructively. Even an XRF gun would be fooled if the shell were thick enough.

Tue, 09/18/2012 - 21:01 | 2809242 seek
seek's picture

Bingo. Came here to post that very advice. A UTG will smoke this stuff out in an instant.

Coins are also harder to tamper with, though it's not impossible. They sell fake tungsten eagles pretty openly, which might even have practical application as decoys.

Tue, 09/18/2012 - 22:43 | 2809607 Real Estate Geek
Real Estate Geek's picture

Tungsten eagles would be light, wouldn't they?  Seems like tungsten maples would be easier.

Tue, 09/18/2012 - 21:05 | 2809258 thomasincincy
thomasincincy's picture

i saw a quick little video with this testing on youtube. surprised the dealer didn't have one in this story

Tue, 09/18/2012 - 20:57 | 2809221 Seasmoke
Seasmoke's picture

another reason why its never a bad thing to be too early rather than a day late.....buying gold before the collapse is a much safer transaction

Tue, 09/18/2012 - 20:58 | 2809222 fourchan
fourchan's picture

chavez is checking all his bars tonight.

Tue, 09/18/2012 - 20:58 | 2809223 Dr. Engali
Dr. Engali's picture

Wow that is fucked up! I'm glad I buy coins but it sure makes me wonder. Thanks for the heads up Tyler.

Tue, 09/18/2012 - 21:03 | 2809250 fonzannoon
fonzannoon's picture

this may be a dumb question but why are coins immune? because they are 1oz?

Tue, 09/18/2012 - 21:08 | 2809274 ATM
ATM's picture

risk reward is far lower and the skill necessary to cut and repair a coin to be non-detectable is much harder. much smarter to focus on the larger bars as the work is paid for in far more stolen gold.

Tue, 09/18/2012 - 21:14 | 2809288 Dr. Engali
Dr. Engali's picture

Yeah what he said. By the way Fonz. You mentioned sheepdog earlier ... I haven't seen him post in a long time have you?

Tue, 09/18/2012 - 21:16 | 2809300 fonzannoon
fonzannoon's picture

lol

I am heading downstairs to check out my 1000oz bars now

Sheepdog was so damn adamant about no QE that I would not be surprised if he suspended himself. He also blames me for serial junking him (never one junk) so somehow I think he blames me for QE.

Tue, 09/18/2012 - 21:30 | 2809348 Dr. Engali
Dr. Engali's picture

That's funny. It would irratate the heck out of him when he would get junked. I tried telling him people would catch on and junk him just to see him get mad. It was funny to watch though.

Tue, 09/18/2012 - 21:14 | 2809296 seek
seek's picture

Exactly. Smaller quanities of gold are recovered per coin, esxisting coins have lots of features to show tampering (the ridges on the edge) and because coins usually have a lot of fine relief detail, the counterfeiter has to work a lot hard to make a passable fake, and has to use a lot more gold to pick up the detail. (Tungsten doesn't take to die stamping too well.)

That they've gone as low as 10oz suprises me, but I would guess there's a lot more agressive acceptance testing for 400oz bars than 10oz bars.

Tue, 09/18/2012 - 21:31 | 2809356 ChanceIs
ChanceIs's picture

I believe that the $20 US paper fiat is the most frequently counterfeited.  Same logic applies.  The larger demoninations are more detailed and those receiving them have a greater motivation to check them out.

Of course the Counterfeiter in Chief does it all with the swipe of an electronic pen these days.

Tue, 09/18/2012 - 21:50 | 2809429 Dr Benway
Dr Benway's picture

Pretty sure the US$100 is the most counterfeited bill.

Tue, 09/18/2012 - 22:06 | 2809485 Harbanger
Harbanger's picture

I just found

FAKE GOLD & SILVER SCAMS : eBay Guides

http://reviews.ebay.com/FAKE-GOLD-amp-SILVER-SCAMS?ugid=10000000001003873

There are potential scams in everything.

Tue, 09/18/2012 - 20:59 | 2809226 blindman
blindman's picture

Halliburton’s Misplaced Radioactive Cylinder: ‘Do Not Handle’
http://news.yahoo.com/halliburton-misplaced-radioactive-cylinder-not-han...
.
"Somewhere in West Texas is a 7-inch radioactive cylinder that Halliburton would like to find. Anyone who comes across it is advised to keep their distance." ..

Tue, 09/18/2012 - 20:59 | 2809230 JPM Hater001
JPM Hater001's picture

Anyone what to guess what the rehypothicated insides of the silver at JP Morgan contain?

Hopium perhaps?

Tue, 09/18/2012 - 20:59 | 2809231 khakuda
khakuda's picture

Now we know what Bernanke and Evans do on weekends. Evans was always good in metal shop.

Tue, 09/18/2012 - 21:00 | 2809232 tony bonn
tony bonn's picture

"That is a sophisticated operation....."

of course it is - which means that it is most likely a government operation.....ft knox was hollowed out in the 1990s and 2000s although it had been depleted starting in the 1960s, only to be filled with nerve gas over the past few years....the clinton / bush regimes took the remaining gold - the crap gold which fdr confiscated - and turned it into tungsten helper, shipped it around the world, only to now wash ashore here....

of course the bush crime syndicate had these operations going on all over the world....but with swiss imprimateur, this makes for a very ugly story because there is more of this crap from whence it came.....swiss gold supply is as its famous namesake cheese.....would you like sleaze on your burger??

if i have said it 1000 times, i will say it 1001 times - gold is in severe and permanent backwardation....the conspiracy possibility is inviting, but oddly enough i reject it......the western banksters are short 40,000-60,000 tons!! in gold - much of it is shipping to china under duress....the fucktard banksters are really in a pickle with qe5 decimating their shorts....good luck with that bitchez....

 

Tue, 09/18/2012 - 21:43 | 2809403 Slightly Insane
Slightly Insane's picture

I would have to inspect the ingots to discern just how well the counterfeit job was done.  Anyone involved with a stamping operation could probably do it.  The key is to measure out the appropriate burden (elements which are denser and less dense in the appropriate mixture so that the mixture equals the density of Gold .... if Tungsten is used (less dense then gold) then some portion of a more dense material has to be added (lead is one choice).  The mixture can then be placed in an envelope (thin gauge copper) which is sized to fit within a die set that is slightly smaller (width, length, and depth) .... calculated on the thickness of the gold gauge used to form the outer shell.

2 sets of dies & gold sheet (0.010") - and burnishing tools ... any reasonable machine shop could do it.  That's if it's done cold.  It may be possible to investment cast the ingot in the "lost wax" process ... around a tungsten shell, however there would be some voids which would have to be chased out with jewelry tooling and re-filled with gold.

If I were wealthy enough to own this stuff there are a few tests (non-destructive) that an owner could perform costing a few bucks.  One would be an acid test (just make sure it's not aqua-regia or your gold is disolved) ... followed up by visual checks looking for staining (fill holes), the second ... easier test is straight density (graduated cylinder - high accuracy) followed up by accurate weighing of the ingot.  The density has to be "spot on" or you've got a problem.  The third (more difficult) would be to use a known "true ingot" and x-ray in conjunction with all the unkowns with the same ingot configuration.  (If you have a dentist friend with an old x-ray, and some flat film (agva sells it)).  The key is to compare the density of the exposure accross the ingot, with the known "good" ingot. 

My guess is that the story is either a "fake" planted by the government to intimidate people from purchasing gold, or perhaps a fraud perpetrated by the previous holder.  Any larger institution should have the necessary lab equipment to perform a variety of physical tests that are "non-destructive" to validate authenticity.  The guy didn't need to drill a hole in the bar ... a simple density test would have sufficed (as long as it's accurate).  The tungsten is something like 4-5% less dense then gold.  My bet is that the government wants to scare folks away from buying gold, and the story is a "plant".

Tue, 09/18/2012 - 22:05 | 2809480 blunderdog
blunderdog's picture

    if Tungsten is used (less dense then gold) then some portion of a more dense material has to be added (lead is one choice).

Don't talk shit.  You're on the fuckin' Internet, ya lazy bastard.

The most powerful information resource EVER and can't be fuckin' bothered to learn ANYTHING.  Still, gotta make sure everyone has the chance to hear your dumbass self.  Pat yourself on the back for talking shit about the sheeple-types watchin' Jersey Shore.

Tue, 09/18/2012 - 22:23 | 2809544 TheFourthStooge-ing
TheFourthStooge-ing's picture

Tungsten, about 1.7 times more dense than lead, is about 0.3% less dense than gold.

Measured at room temperature, the densities are:

Tungsten - 19.25 grams per CC

Gold - 19.30 grams per CC

Tue, 09/18/2012 - 23:46 | 2809769 blunderdog
blunderdog's picture

whoosh

Wed, 09/19/2012 - 05:21 | 2810137 Parrotile
Parrotile's picture

Using an accurate balance & measuring cylinder isn't going to cut it either - even Grade A cylinders have some degree of inaccuracy, as does a balance - and with a difference in densities of 0.3% (3 parts in 1000) it's not easy with off the shelf volumetric / gravimetric equipment.

Best (and for Mr Average the ONLY) bet is to go for ultrasonic thickness testing and a micrometer - speed of sound in cast Tungsten is about 2 times greater than in gold (from memory, 5000m/s vs 1700m/s??), so the fake bar would appear thinner than it really is - hence the micrometer!

Human nature - if they can con you in any shape of form they WILL try!

Tue, 09/18/2012 - 22:11 | 2809501 FeralSerf
FeralSerf's picture

Lead is not more dense than either gold or tungsten.   You're full of shit.

Tue, 09/18/2012 - 23:31 | 2809728 Real Estate Geek
Real Estate Geek's picture

W=74

Au=79

Pb=82

The internet is your friend! (http://www.ptable.com/)

Tue, 09/18/2012 - 23:42 | 2809758 tmosley
tmosley's picture

I'm pretty sure you are retarded, but you may just be randomly posting atomic numbers for no reason, rather than the DENSITY of the metals, which has little or no correlation to atomic number.

Wed, 09/19/2012 - 00:59 | 2809901 XitSam
XitSam's picture

Density of lead 11340 kg/m3

Density of gold 19300 kg/m3

Edit: Density of tungsten 19250 kg/m3

Wed, 09/19/2012 - 00:59 | 2809909 erkme73
erkme73's picture

...

Wed, 09/19/2012 - 01:11 | 2809922 XitSam
Wed, 09/19/2012 - 01:05 | 2809916 Urban Roman
Urban Roman's picture

But atoms of Pb take up a lot more space.

Tue, 09/18/2012 - 22:17 | 2809524 sullymandias
sullymandias's picture

The guy may well have done a density test first, and only drilled the hole when that turned out badly. That part might have been cut from the story. Just sayin'

Tue, 09/18/2012 - 22:31 | 2809573 Harbanger
Harbanger's picture

On a coin you can always use the traditional bite test but you may break a tooth on the tungsten.

Tue, 09/18/2012 - 21:03 | 2809237 Cult_of_Reason
Cult_of_Reason's picture

The remaining metal is not 999,9 gold neither.

The only way they could have done it is by re-melting and making a fake copy (not drilling the original bar).

Tue, 09/18/2012 - 21:24 | 2809329 e_goldstein
e_goldstein's picture

That video's explanation made me laugh. 

I still can't for the life of me figure out how they did it. "Float" a bar of tungsten in melted gold in a steel ingot that is an exact replica of the PAMP mold, then melt and pour in more gold is my best guess. Polish and stamp.

Tue, 09/18/2012 - 22:32 | 2809434 Cult_of_Reason
Cult_of_Reason's picture

If they can make fake US military aircraft parts, they can make fake gold bars. There are probably thousands, if not millions, of such fake bars in the circulation.

A year-long probe found 1,800 cases of fake parts in US military aircraft, the Senate Armed Services Committee said. More than 70% of an estimated one million suspect parts were traced back to China.

"Rather than acknowledging the problem and moving aggressively to shut down counterfeiters, the Chinese government has tried to avoid scrutiny"

http://www.bbc.co.uk/news/world-us-canada-18155293

Tue, 09/18/2012 - 23:05 | 2809652 Harbanger
Harbanger's picture

I dont think they melted or stamped anything.  They probably sliced it in 1/2 then machined out the core of both halves of the original bar. The sides dont look ribbed so it's probably not hard to weld them back together..

Tue, 09/18/2012 - 23:54 | 2809782 e_goldstein
e_goldstein's picture

There would be a visible weld left on the side of the bar. I don't see any evidence of a weld in any of the pictures.

Wed, 09/19/2012 - 01:21 | 2809885 Cult_of_Reason
Cult_of_Reason's picture

Nah...

They melt gold, pour a little into a mold, drop a tungsten plate, pour more gold on top to cover the plate, make a bar, stamp it, polish it, and sell it to a sucker.

http://www.youtube.com/watch?v=pbxwTgxPzJk&feature=related

Tue, 09/18/2012 - 21:28 | 2809344 Tedster
Tedster's picture

I agree. The bar looks.. cheesy. There's no way to hollow out a genuine bar? Somebody needs to find an example of an authentic bar and see how they compare.

Coins are nearly self-authenticating, it would be extraordinarily difficult to make a convincing fake that would pass all the standard (trivial) tests. It would have to be visually perfect, to include the reeding on edge. Tungsten is brittle, and is not able to be stamped like a coin?

If it were possible to make a perfect-looking coin, with a tungsten core, it would be the correct weight, and size - but - it would not, I suspect, have the characteristic ringing noise when flipped on a wooden bar.

Still, for peace of mind, I can recommend the Fisch fake coin detector
http://www.fisch.co.za

Not cheap, but foolproof and simple, well made, and if it detects a fake it will have paid for itself. May be handy not only when buying - when selling too - just the ticket if the prospective buyer is abit skittish. They even make one for Silver Dollars. No connection with the firm, just a satisfied customer.

Tue, 09/18/2012 - 21:39 | 2809382 Overfed
Overfed's picture

Tungsten melts at nearly 6200 degrees, about three times the melting temperature of gold. No way your going to hollow out a gold bar and cast tungsten into it.

Tue, 09/18/2012 - 22:01 | 2809466 Herkimer Jerkimer
Herkimer Jerkimer's picture

This scares the batsnot out of me. Should I go and grab my Scotia Macotta wrapped in hard plastic bars and crack one open?

 

Who would do it? And what a scam to have pulled off, by the banks no less! We know their printing certificates like it's paper, SLV and GLD, don't we?

 

I'd like to see how this is done, make a fake like this. It looks pretty good.

 

•?•
V-V

Tue, 09/18/2012 - 22:01 | 2809467 Herkimer Jerkimer
Herkimer Jerkimer's picture

This scares the batsnot out of me. Should I go and grab my Scotia Macotta wrapped in hard plastic bars and crack one open?

 

Who would do it? And what a scam to have pulled off, by the banks no less! We know their printing certificates like it's paper, SLV and GLD, don't we?

 

I'd like to see how this is done, make a fake like this. It looks pretty good.

 

•?•
V-V

Wed, 09/19/2012 - 00:26 | 2809854 Bastiat
Bastiat's picture

Excellent point.  My bullshit meter advances to 2/3 on that.

Tue, 09/18/2012 - 22:19 | 2809532 FeralSerf
FeralSerf's picture

The Fisch would not be able to detect a tungsten filled coin.  It measures weight and size, and therefor density, only.  Tungsten has almost the same density as gold.

Tue, 09/18/2012 - 23:29 | 2809718 Tedster
Tedster's picture

true - but, it would be difficult to make a convincing fake (visually) that passes the density tests, AND rings like gold when struck, or flipped on a hard surface?

Does tungsten ring like gold/copper alloy when struck?

Wed, 09/19/2012 - 01:24 | 2809928 Urban Roman
Urban Roman's picture

Almost certainly not.

Gold is one of the softest metals and tungsten is one of the hardest. If you were familiar with bars of a certain size/shape, I'd think you would immediately recognize the fake by its ring, or lack thereof.

Wed, 09/19/2012 - 02:29 | 2809982 Urban Redneck
Urban Redneck's picture

Fisch is a ripoff for the lazy-

 A single quality pocket reloading scale and calipers will work on any coin, unlike the Fisch

Tue, 09/18/2012 - 21:48 | 2809416 cranky-old-geezer
cranky-old-geezer's picture

 

 

Agreed, no way they can hollow out that bar slip a tungsten slug in and close it up with no trace of tampering.   Looks like maybe 1/16 inch thickness around the slug.  Nope, no way to reshape something that thin around a slug with no trace of tampering.

It was recast with the slug in it, which means it goes way further up the chain ...or down the rabbit hole... whichever view you prefer.

Tue, 09/18/2012 - 22:06 | 2809482 Overfed
Overfed's picture

Another thing that identifies this as a false-flag story for me is the drill divet in the "tungsten". That shit's pretty hard, you'd need to be crankin' on a drill press pretty good for that.

Tue, 09/18/2012 - 23:58 | 2809791 e_goldstein
e_goldstein's picture

Tungsten is really brittle. I think the reason that the slug isn't rectangular is because on their initial attempt at drilling, they cracked it with the drill press. In the 4th picture, you can see where the bit cracked and ran across the slug.

Tue, 09/18/2012 - 21:56 | 2809449 DosZap
DosZap's picture

The only way they could have done it is by re-melting and making a fake copy (not drilling the original bar).

 

Heard of CNC Machining??,Easy,breezy.

The Tungsten rods is the easiest.

Drill out, insert T rods, add 999.9 in holes, and smooth out end.

 

DONE .

Tue, 09/18/2012 - 21:56 | 2809451 DosZap
DosZap's picture

The only way they could have done it is by re-melting and making a fake copy (not drilling the original bar).

 

Heard of CNC Machining??,Easy,breezy.

The Tungsten rods is the easiest.

Drill out, insert T rods, add 999.9 in holes, and smooth out end.

 

DONE .

Tue, 09/18/2012 - 21:01 | 2809239 tony wilson
tony wilson's picture

problem,reaction,solution.

 

problem...gold

reaction...fake report

solution....everyone feels safer with fake real paper yes.

 

 

Tue, 09/18/2012 - 21:02 | 2809244 Squid Vicious
Squid Vicious's picture

move along, just those nice folks next door again, as Mr. Irving might say

Tue, 09/18/2012 - 21:04 | 2809246 newengland
newengland's picture

Triple check. Excellent advice, Fight Club.

I have no sympathy for this whiner, nor his supplier. People who want something for cheap ... do cheat.

The buyer and supplier deserve each other.

Caveat emptor, Tylers.

Tue, 09/18/2012 - 21:03 | 2809253 WTFx10
WTFx10's picture

The BIS is headquartered in Switzerland.

The top of the fiat pyramid.

The headquarters of the World Banking syndicate.

Stealing is their business.

Wed, 09/19/2012 - 00:41 | 2809883 Raymond Reason
Raymond Reason's picture

...and business is good. 

Tue, 09/18/2012 - 21:04 | 2809256 Cosimo de Medici
Cosimo de Medici's picture

Just my luck to be stuck with a pile of tungsten just when the EPA is going to outlaw incandescent bulbs.

I've had it with PMs.  I'm sticking with those North Korean-made Franklin C-notes I get at my bank in Macau.

Tue, 09/18/2012 - 21:04 | 2809257 Bastiat
Bastiat's picture

Nice timing on this.  Bullshit meter at 1/3.

Tue, 09/18/2012 - 21:06 | 2809265 squexx
squexx's picture

Notice how the Satanic Tribe is on all sides of this story? "Hey Rabbi, watcha doin?!?"

Tue, 09/18/2012 - 21:07 | 2809266 Doomer
Doomer's picture

Is it just me, or do the edges of the corners look odd, like they are severely worn?  Seems like there is always a visible tell on a fake, just like those fake bank e-mails with poor English.

Tue, 09/18/2012 - 21:30 | 2809352 lakecity55
lakecity55's picture

you are right....could be the lighting. It would be great if we could all see it for real before it was drilled.

Tue, 09/18/2012 - 23:05 | 2809650 Temporalist
Temporalist's picture

Ok you two lay off the scotch or put down the pipe or wipe the sleaze off your glasses.  The first pictures with the crinkled corner is because the bar is behind plastic, like the plastic clamshell case it came it, that has a dent.

Tue, 09/18/2012 - 21:07 | 2809268 mendolover
mendolover's picture

It looked like a little steel candy bar!

Tue, 09/18/2012 - 21:07 | 2809270 geewhiz190
geewhiz190's picture

stick with iphones-they're the real deal!

Tue, 09/18/2012 - 21:09 | 2809275 Caged Monkey
Caged Monkey's picture

The merchant didn't counterfeit that; someone else counterfeited that. - BO

Wed, 09/19/2012 - 01:31 | 2809933 BigDuke6
BigDuke6's picture

Yep

fadl ibrahim bought it off Levi Goldsteinberger.

Very kosher.

Tue, 09/18/2012 - 21:10 | 2809283 Cabreado
Cabreado's picture

Bound to happen, feeds the turmoil, the-greedy-self-absorbed-idiot-humanoid-like creature who has now achieved critical mass -- that is our downfall.

This is All going in a direction of Humility and Interest in Being Human

vs.

everything else.

C'mon you Aliens... the time is ripe.

Tue, 09/18/2012 - 21:20 | 2809284 bob_dabolina
bob_dabolina's picture

Ultrasound your shit, jfc.

Gel your gold bar up like a pregnant woman and make sure it's the real deal.

What's this drilling bullshit?

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